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Google buys 5.94% stake in new Motorola owner Lenovo

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Last Thursday in a surprise move Lenovo bought smartphone manufacturer Motorola outright for US$ 2.91 billion from its American owners Google Inc., less than 3 years since Google themselves purchased the handset maker in a bid to revamp their smartphone hardware divisions.

Now reports have laid out that Google in fact acquired 5.94% of the Chinese tech company on the same day as it sold off the Motorola division which last year produced their first true device collaborations with Google in the Moto x and Moto G handsets- to lukewarm responses worldwide, including here in Malaysia.

What we know about the Moto X, Google’s first smartphone with Motorola

Lenovo has been making waves in recent times with the release of its Lenovo Vibe X smartphone to be followed by the impending release of its first LTE-capable model called the Vibe Z, which was announced at CES 2014 along with three other smartphone models. The purchase of Motorola is seen to solidify Lenovo’s emerging foothold in smartphone and tablet hardware.

Motorola CEO Dennis Woolside & Lenovo chairman Yang Yuanqing shake on it.

Motorola CEO Dennis Woolside & Lenovo chairman Yang Yuanqing shake on it.

The dual acquisitions come just a week after Lenovo purchased IBM’s low-end server business for US$2.3 billion, which is said will enable Lenovo to compete with American giants like Dell and Hewlett-Packard.

In addition to the Motorola Mobility brand and trademarks, the Chinese company will also get more than 2000 Motorola patent assets in the deal, although Google will still retain ownership over the vast majority of Moto’s patent portfolio which includes the more recent patent applications and invention ventures.

However, the Motorola acquisition news concerned Asian traders, with Lenovo’s Hong Kong-listed shares losing almost a quarter of their value over 2 days after news of them buying the loss-making smartphone manufacturer came to light. It seems that market sentiment is that Lenovo might be taking on more than they can handle with the deal, but shares did rise 1.6% at the end of market closing last Friday.

Source: Channel NewsAsia

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